Chief executive Tony Scholes thanked Britannia and the Co-operative Bank for their "tremendous support" over the past 19 years, but said it wanted to maximise income.

"The Premier League is constantly evolving and to ensure that Stoke City remain as competitive as possible it's important we explore as many ways as possible of generating revenue."

Image copyrightStoke CityImage caption
Stoke City chief executive Tony Scholes (l) with bet365 joint chief executive John Coates said it was time the club evolved

The football club has agreed a six-year stadium naming rights deal with its owner, who has also extended its shirt sponsorship for a further three years.

The redevelopment of the stadium will be completed in time for the start of the 2017-18 season, the club confirmed.

John Coates, joint chief executive of bet365 and vice chairman of Stoke City, said there was "no doubt" the gambling company, based in the city, had benefitted from the shirt sponsorship agreement.

"We have been looking to extend our portfolio of sports sponsorship and entering into a stadium naming rights agreement with Stoke City seemed a natural fit, especially as the city of Stoke-on-Trent is home to bet365."

The Potters are currently ninth in the Premier League, with four games left until the season finishes.